Hey everybody! It’s Lou Brown. Welcome back to another of 101 additional profits. Since there’s ways that you can increase the amount of money that you’re receiving on every property that you do. And one of the ways that we’ve discovered that we can do that is the deal with the appliances. You know, I discovered years ago that appliances were one of the biggest headaches you can ever have. It was amazing to me. I had a whole bunch of apartments and people would have a tiny little refrigerator with a tiny little freezer and if the refrigerator went out, they would say that they had lost $400 worth of meat because the freezer went out and they lost $400 worth of valuable meat. I discovered that being in the appliance business was not a business I wanted to be in. And so years ago I started just carving out and disappearing appliances. So now if the home had a dishwasher, it still has one.
If it had a stove, it still has one. If it had a refrigerator, it still has one. If they are there. But what we tell the resident is they’re there as a convenience to you. They are not included in the rent. If anything goes wrong or bad with those, call an appliance expert and have them come deal with that or go buy yourself a new one and have fun with that. We actually got out of the appliance business years ago. I’m so glad we did. If we purchased a new property and it doesn’t have any one of those three, we do typically put in a dishwasher but then we’ll leave out the stove and refrigerator and we’ll let the resident buy new ones. Now here’s another thing that we’ve done is another province in our, I should probably put it on another one, but we will actually sell the appliances to the residents. We can talk more about that. So I hope you love the idea of not having to be in the appliance business. And in fact we have a clause in my standard rental agreement that says no part of the rent applies to appliances. If they’re there, they’re there as convenience and they are welcome to have them repaired or call us. And we will take them away. And that’s the way that we handle appliances.
I hope this has been of value to you. Taking advantage of my over 40 years being in this business, supplying, holding, and selling property. Share this. Like it. Love it. And I will see you soon. Yeah, baby!
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